Solar Panel Cost Guide in Syracuse, NY (2023 Update)
- Syracuse Solar Installation Cost: $9,561
- 25-Year Savings: $5,928
- Payback Period: 15.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Syracuse
See how much it might cost to install solar panels in Syracuse.
In Syracuse, solar panels cost about 2.95 per watt on average. Using this figure, a typical 4.6-kW system would cost about $9,561 before the 30% federal solar tax credit is applied.
These figures are just averages, and your own solar costs may differ based on the amount of energy your home requires and what company you choose to go with. Many homeowners find installing a solar system is a solid investment. The average homeowner in Syracuse can save about $13,000 on their electricity bills over 20 years.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Syracuse
| Year | Return on Investment |
|---|---|
| 1 years | $-8,941 |
| 3 years | $-7,702 |
| 5 years | $-6,463 |
| 7 years | $-5,224 |
| 9 years | $-3,985 |
| 11 years | $-2,746 |
| 13 years | $-1,507 |
| 15 years | $-268 |
| 17 years | $971 |
| 19 years | $2,210 |
| 21 years | $3,449 |
| 23 years | $4,688 |
| 25 years | $5,928 |
Top Solar Installers in Syracuse
When making the switch to solar, many homeowners prefer to hire a solar company since installing a solar system yourself can be a challenging project. Plus, if you aren't sure what type of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
If you're on the hunt for a solar company in Syracuse, the EcoWatch team has compiled a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Syracuse
Factors that Affect Solar Panel Costs in Syracuse
For many Syracuse homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Syracuse, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That's why it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Syracuse, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the growing popularity of renewable energy solutions in Syracuse, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that offers the products, warranties and services you want and also fit into your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.07 | $12,886 | $7,177 | 16.1 years |
| 8 kW | $3.01 | $16,850 | $9,900 | 15.7 years |
| 10 kW | $2.95 | $20,650 | $12,788 | 15.4 years |
| 12 kW | $2.89 | $24,284 | $15,841 | 15.1 years |
| 14 kW | $2.83 | $27,754 | $19,060 | 14.8 years |
| 16 kW | $2.77 | $31,058 | $22,443 | 14.5 years |
| 18 kW | $2.71 | $34,196 | $25,992 | 14.2 years |
| 20 kW | $2.66 | $37,170 | $29,706 | 13.9 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Syracuse, NY Solar Cost FAQs
What is the average cost of installing solar panels in Syracuse?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Syracuse?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Can solar panels eliminate my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Syracuse, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.